As a Result of a Fall in the Price of Gasoline

question 82

Multiple Choice

As a result of a fall in the price of gasoline, consumers can afford to buy more gasoline for more driving trips. This is an illustration of

• A) the income effect.
• B) the substitution effect.
• C) diminishing marginal utility.
• D) consumer sovereignty.

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Definitions:

Pressure Gradient

The physical quantity that represents the rate of pressure changes over a specified distance in a fluid medium.

Phloem

The plant's vascular system responsible for moving sugars and other substances produced during metabolism from the leaves downward.

Springwood

The portion of a tree's annual growth ring that is formed in the early part of the growing season, characterized by larger and less dense cells than those produced later in the season.

Conducting Cells

Cells in plants that form the tubes for transporting water, minerals, and nutrients, namely xylem and phloem cells.